Voltabox Prices IPO At EUR 24.00/shr

10/10/2017 10:50 AM ET

Electro mobility pioneer Voltabox AG, in coordination with the parent company paragon AG and the syndicate banks, set the final issue price for its offered shares of at EUR 24.00 per share. At the issue price, the initial public offering of Voltabox AG was 10 times covered. Accordingly, the price has been fixed at the upper end of the range of EUR 20.00 to EUR 24.00 per share.

Overall, 6.325 million shares of Voltabox AG were placed with investors in the context of the IPO. 5.0 million new shares from a capital increase and an additional 0.825 million over-allotment shares from a share loan provided by paragon AG with respect to the greenshoe option granted to the syndicate banks.

The parent company paragon AG sold another 0.5 million shares from its holdings in the course of the offering. Accordingly, the overall placement volume amounted to EUR 151.8 million of which the company generated EUR 139.8 million in gross proceeds. Free float in case of a full exercise of the greenshoe option will amount to about 40%.

Parent company paragon AG intends to remain the majority shareholder of Voltabox for the foreseeable future.

The commencement of trading in the Voltabox AG shares in the regulated market of the Frankfurt Stock Exchange (Prime Standard) under ticker symbol VBX, ISIN DE000A2E4LE9 and the German securities identifier WKN A2E4LE is scheduled for October 13, 2017.

Business software giant Oracle Corp. (ORCL), Monday said it swung to a third-quarter loss after taking a $6.9 billion charge related to the new U.S. tax law. Revenues for the quarter grew 6 percent reflecting strong growth in cloud revenues. Adjusted earnings for the quarter trumped Wall Street estimates,...

Canada-based cannabis company Cronos Group Inc. (CRON) and MM Enterprises USA LLC said Monday that they have formed a cross-border joint venture to cater to Canadian consumers. The move comes as Canada plans to legalize adult use of cannabis by the end of this year. MM Enterprises USA, LLC is a U.S. cannabis company with facilities in California, Nevada, and New York.

Qualcomm Inc.'s former Chairman Paul Jacobs plans to acquire the chipmaker founded by his father and has approached several global investors in an effort to fund the buyout, the Financial Times reported. According to the report, Jacobs informed members of the Qualcomm board about his intention to take the company private. Qualcomm has a market capitalization of $90 billion.